Program Learning Outcome: Students will demonstrate an understanding for the complete accounting cycle.P Directions: Students will use the Excel spreadsheet to journal the transactions below. The following rubric will be used for grading: Task Exemplary (33 points) Above Average (25 Points) Average (18 Points) Needs Improvement (13 Points) Score Journal transactions using the Excel Spreadsheet Shows knowledge and applied professionally Has knowledge and correctly applied Some knowledge but needed minor assistance Needed major instructional assistance Descriptions and formatting are correct. Shows knowledge and applied professionally Has knowledge and correctly applied Some knowledge but needed minor assistance Needed major instructional assistance Formulas are accurate. Shows knowledge and applied professionally Has knowledge and correctly applied Some knowledge but needed minor assistance Needed major instructional assistance Business Transactions: Lisa invested cash by making a deposit in a bank account for the business, $8,000. Paid rent for July, $150. Purchased a used van for cash, $5,000. Purchased tools on account from Clean Tools, $600. Purchased cleaning supplies cost $300. Paid $200 cash and will play the balance next month, $100. Paid part-time assistant wages for the first half of the month, $100. Paid for advertising, $75. Paid two-year premium for liability insurance on van, $480. Made partial payment on tools purchased in transaction 4, $200. Earned additional revenues amounting to $800: $600 in cash and $200 on account.